Page Perry Partner Robert Terry Appointed Receiver of Summit Wealth Management


Page Perry partner Robert D. Terry has been appointed as Receiver in an enforcement action filed by the U.S. Securities and Exchange Commission in U.S. District Court in Atlanta. The SEC requested the court to appoint Mr. Terry as Receiver for the estate of Summit Wealth Management, Inc. and other affiliated entities that are defendants in the SEC’s enforcement action. As the court-appointed Receiver, Mr. Terry will administer and manage all assets of the entity defendants.

The SEC filed its civil action against Atlanta-based Summit Wealth Management Inc. and its president Angelo A. Alleca and related entities charging them with fraud resulting in the loss of over $17 million by approximately 200 investors. In addition to the appointment of Mr. Terry as Receiver, the Court entered an order freezing the defendants’ assets and an accounting of the defendants’ use of the investors’ assets.

Mr. Terry is a former Director of the Georgia Securities Division and brings a wealth of experience in securities regulation and enforcement. He is also a former Chief Compliance Officer of SunTrust Investment Services, Inc., and served as Securities Counsel and Due Diligence Officer for FSC Securities Corp.

The case is Securities and Exchange Commission v. Angelo A. Alleca, et al., United States District Court for the Northern District of Georgia, Atlanta Division, Civil Action File No. 1:12-CV-3261-WSD.

Page Perry is an Atlanta-based law firm with over 170 years of collective experience maintaining integrity in the investment markets and protecting investor rights.